SIR HAROLD BEAUCHAMP.

Waikato Times, Volume 112, Issue 18802, 25 November 1932, Page 8

SIR HAROLD BEAUCHAMP.

RETURN FROM ABROAD. CONDITIONS IN CANADA. WELLINGTON, Thursday. After being absent from New Zealand since May 3, Sir Harold Beauchamp returned by the Rangitane today. *’ I have visited Canada on many occasions,” he said wiien interviewed, “hut never did I And her people in such a depressed condition as they w’ere on my last visit.” The papers were stating that 35 per cent, of the country’s workers were unemployed. There were wonderful opportunities, for those with money available, to buy gilt-edged investments returning very handsome results. He had noticed some indications of a return of confidence. “ But,” said Sir Harold, “ I am still of opinion that we cannot look for a real revival in worldwide trade until some definite arrangement is made for the wiping out of the heavy international indebtness which is strangling trade in all parts of the world. That, of course, cannot he done unless America falls in which the proposals.” Canada had suffered stupendous losses in the running of its railways, but the Fedaral Minister of Railways, the Hon. R. J. Manion, publicly denied that adverse criticism was justified. He stated that Canada paid in interest and other guarantees some 102,000,000 dollars on account of the Canadian National railways last year. That railway had become the blgest problem in Canada to-day and was in a sense Canada’s second national debt. Not only did it consume 57,000,000 dollars- annually in interest alone, but it owed a billion dollars to the nation.